TEXT-F&P Appliances say extends banking facility

(The following statement was released by the company)

WELLINGTON, April 28 - Fisher & Paykel Appliances announced today that it has entered into an agreement to amend the interim bank funding facility announced to the market on 13 March 2009.

The Company's banking syndicate has agreed to extend the date for repayment of the facility until 29 May 2009. All other terms of the interim funding facility remain unchanged.

The Company continues to work closely with its banking syndicate with a view to refinancing the total bank debt of the Appliances Group by that same date, subject to the Company and its banks being able to mutually agree terms. The Company's expectation is that the interim funding facility will be repaid from the proceeds of that refinancing.